Tilray® Announces Investment to Expand Canadian Production and Manufacturing Footprint to Increase Supply of Medical and Adult-Use Cannabis

Company plans to add 203,000 square feet at three of its existing
facilities located in Leamington, Ontario; London, Ontario; and Nanaimo,
British Columbia

NANAIMO, British Columbia--(BUSINESS WIRE)--May 8, 2019--
Tilray Inc. (NASDAQ:TLRY), a global pioneer in cannabis research,
cultivation, production, and distribution, today announced an investment
of US$32.6M to increase the company’s Canadian cannabis production and
manufacturing footprint by 203,000 square feet across three facilities.
This investment will expand Tilray’s total production and manufacturing
footprint from 1.1 million to 1.3 million square feet worldwide.

In 2019, Tilray acquired Natura Naturals Inc., now operating as High
Park Gardens (“High Park Gardens”). High Park Gardens is a 662,000
square-foot cultivation facility, of which 155,000 square feet is
currently operational and licensed for cannabis cultivation and
manufacturing. As a result of the investment announced today, High Park
Gardens will add an additional 127,000 square feet of production space.
Once the expansion is complete and licensed by Health Canada, High Park
Gardens’ footprint will increase by 82 percent, utilizing up to 282,000
square feet of state-of-the-art cultivation space with room to expand
further in the future. The expansion project is expected to create more
than 40 job opportunities over the course of the next year.

High Park Processing Facility – London, Ontario

In June 2018, Tilray announced that High Park Holdings Ltd. (“High Park
London”) would establish a manufacturing facility to produce adult-use
cannabis products in London, Ontario. Currently High Park London is a
56,000 square foot facility licensed by Health Canada to process and
sell adult-use cannabis products. As a result of the investment
announced today, High Park London will double in size from 56,000 square
feet to 112,000 square feet. The expansion project will enhance the
site’s R&D, processing and packaging capabilities and is expected to
generate 60 additional jobs.

Tilray Canada – Nanaimo, British Columbia

Tilray Canada Ltd. (“Tilray Canada”) is the company’s GMP-certified R&D,
cultivation and processing facility located in Nanaimo, British
Columbia. The facility began operating in April 2014 and was one of the
first to be awarded a license by Health Canada to cultivate medical
cannabis. Tilray utilizes this facility to produce pharmaceutical-grade
medical cannabis products for Canada as well as international markets.
As a result of the investment announced today, the Nanaimo facility will
increase its footprint from 60,000 square feet to 80,000 square feet.

About Tilray®

Tilray is a global pioneer in the research, cultivation, production and
distribution of cannabis and cannabinoids currently serving tens of
thousands of patients and consumers in twelve countries spanning five
continents.

About High Park™

Based in Toronto and led by a team with deep experience in cannabis and
global consumer brands, High Park was established to develop, produce,
sell, and distribute a broad-based portfolio of adult-use cannabis
brands and products for the Canadian market. High Park is a wholly-owned
subsidiary of Tilray, Inc.

Cautionary note regarding forward-looking statements:

This press release contains “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995 and
“forward-looking information” within the meaning of Canadian securities
laws, or collectively, forward-looking statements. Forward-looking
statements or forward-looking-information in this press release may be
identified by the use of words such as, “may”, “would”, “could”, “will”,
“likely”, “expect”, “anticipate”, “believe, “intend”, “plan”,
“forecast”, “project”, “estimate”, “outlook” and other similar
expressions, including without limitation statements in respect to
Tilray’s intention to increase production, processing, cultivation or
R&D capacity or launch brands, products and novel form factors at any of
its facilities and Tilray’s expectations relating to servicing the
Canadian medical and adult-use market. Forward-looking statements are
not a guarantee of future performance and are based upon a number of
estimates and assumptions of management in light of management’s
experience and perception of trends, current conditions and expected
developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances, including assumptions in
respect of current and future market conditions, the current and future
regulatory environment and future approvals and permits. Actual results,
performance or achievement could differ materially from that expressed
in, or implied by, any forward-looking statements in this press release,
and, accordingly, you should not place undue reliance on any such
forward-looking statements and they are not guarantees of future
results. Please see the heading “Risk Factors” in Tilray’s Annual Report
on Form 10-K, which was filed with the Securities and Exchange
Commission and Canadian securities regulators on March 25, 2019,
assumptions, uncertainties and other factors that may cause actual
future results or anticipated events to differ materially from those
expressed or implied in any forward-looking statements. Tilray does not
undertake and specifically declines any obligation to update any
forward-looking statements that are included herein, except in
accordance with applicable securities laws.